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Search Results 0 to 5 of about 6 (some duplicates have been removed)
Nov 20, 2012 7:00pm PST
it could be the beginning of simultaneous tax hikes and spending cuts. >> talking about the fiscal cliff and everyone is talking about it including the u.s. federal reserve chairman ben bernanke. he warned the imminent fiscal cliff poses a stashlg threat to the nation's economy and does say cooperation to resolve budget worries could boost u.s. growth. >> the realization of all of the automatic tax increases and spending cuts that make up the fiscal cliff ab isn't offsetting changes would pose a substantial threat to the recovery. >> the central bank chief urged the government and congressional leaders to take prompt action. president obama is negotiating for a resolution with republicans but bernanke says delays in reaching an agreement would raise uncertainty over the u.s. economic outlook. he added avoiding a fiscal cliff is essential for the american economy. bernanke says a plan for resolving the nation's longer term budgetary issues without harming recovery could make 2013 a very good year for americans. japan's trade balance for october sank into the red for a fourth straight mont
Nov 27, 2012 7:00pm PST
tax hikes and spending cuts in the united states known as the fiscal cliff. the analysts expect the eurozone will contract again in 2013 and they say the region's gross domestic product will shrink by 1/10th of a percent and predicted positive growth of 0.9% in the previous report six months ago. they lowered the growth expectation for the united states economy from 2.6% to 2%. they pointed to a sluggish recovery. the document warns the fiscal cliff would not only deal a heavy blow to the u.s. but might drag the global economy into recession. as for japan, the oect downgraded the outlook from 1.5% to 0.7%. they cited weak domestic demand. analysts urged the nation to compile detailed reliable plans for fiscal reform. u.s. consumer sentiment hit the highest level in more than four and a half years. researchers at analytics form the conference board say the consumer confidence index rose for a third straight month. the numbers rose to 73.7 in november, up from 73.1 in october. that's against a base value of 100 set in 1985. they say that the christmas shopping season started smoot
Nov 26, 2012 7:00pm PST
.s. financial experts say american consumers could spend $200 billion less due to the so-called fiscal cliff. the potential financial crunch involves automatic spends cuts coinciding with tax increases. it will occur at the end of this year unless opponents in congress find a compromise. the white house on monday released an estimate upon middle income earners. a family of four earning 50 to $80,000 will see taxes rise by over $2,000 a year. the increase will prompt shoppers to tighten pursestrings by $2 billion. members of the democratic and republican parties oppose an income tax rise for the middle class. democrats want the wealthy to pay more while the republicans are against such a hike. the parties start talk this week. now let's get a check on the markets. taking a look at the currency market. the euro reached a one-month high of 1.3 against the dollar and that's after the news that the euro zone ministers reached an agreement on the greek bail out. euro dollar quoted at 17.2992. now turning to stocks. tokyo shares are up slightly as bargain hunters are buying back recent decliners. n
Search Results 0 to 5 of about 6 (some duplicates have been removed)